On
the heels of yesterday’s interview with the man who counsels prominent
hedge funds, investment banks, institutional money managers, mutual
funds, pension funds, and high net worth individuals across the globe,
predicting a coming 1987 style meltdown in stocks and eventual
hyperinflation, today we have Gabelli & Company saying gold will smash to new all-time highs in 2013.
Here is the exclusive Gabelli & Company piece for KWN where they are forecasting significantly higher prices for gold: “Near
the start of 2013 we find that many financial commentators expect gold
to underperform most asset classes citing the duration and scope of its
performance over the past decade and the feeling that economic and
financial normalcy is just around the corner.”
“We will see if
this is the case but we note that investor sentiment towards gold, in
the developed western economies, is low. In the past this has been a
useful buy signal. The current poor sentiment probably reflects the
recent trading history of the gold price which has been in a range
between $1,550 and $1,800 per ounce.